There is hereby created within the financial accounts of the Town of Stratford an enterprise fund known as the "Wastewater Operating Fund." The purpose of said fund is to account financially for the operations of the Town of Stratford sewer use operations. It is the intent of the Town Council that the costs (expenses, including depreciation) of providing sewer use services to the Town of Stratford users shall be recovered primarily through user charges.
The financial statements disclosing all activities of the Wastewater Operating Fund for each fiscal year shall be a part of the Town of Stratford's annual financial report. The Wastewater Operating Fund shall encompass all financial-related activities of the sewer use operation promulgated under § 172-92A through E(3) of the Code of the Town of Stratford. All financial activities of the Wastewater Operating Fund shall be conducted in accordance with pronouncements and/or regulations of the Government Accounting Standards Board (GASB).